Drone Delivery Canada (TSXV:FLT) Momentum Rank : 2 (As of May. 27, 2024)

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What is Drone Delivery Canada Momentum Rank?

Drone Delivery Canada has the Momentum Rank of 2.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Drone Delivery Canada's Momentum Rank

For the Computer Hardware subindustry, Drone Delivery Canada's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Drone Delivery Canada's Momentum Rank Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Drone Delivery Canada's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Drone Delivery Canada's Momentum Rank falls into.

Drone Delivery Canada Momentum Rank Related Terms

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Drone Delivery Canada (TSXV:FLT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Drone Delivery Canada Corp (TSXV:FLT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

TAKOF:USA ABBA:Germany

Address

6-6221 Highway 7, Vaughan, ON, CAN, L4H 0K8

Website

https://www.dronedeliverycanada.com

Drone Delivery Canada Corp is a developmental technology company. It focuses on designing, developing, and implementing a commercially viable drone delivery system within Canadian geography. The company develops drone technology to provide retailers, service organizations, and government agencies a just in time delivery service. It provides a few service options such as Depot to Depot which is focused on rural applications providing services from warehouse to warehouse and Depot to consumer offering logistics services from a retailer and warehouse direct to a consumer's home or business location.

Executives

Michael Della Fortuna

Director

Drone Delivery Canada (TSXV:FLT) Headlines

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